According to a new report published by UnivDatos Markets Insights, the electrical bushing market is worth at USD 2.5 billion and is expected to grow at a CAGR of 3.5% from 2022 to 2028. Industry (Industrial , Utilities, Other), Region/Country.
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The Electric Bushings Market report is compiled by gathering informative data on various dynamics such as market drivers, constraints and opportunities. Depth analysis of the latest industry developments and market trending factors impacting market growth.
Market overview
Electrical bushing refers to an insulating structure through a conductor, or a structure that provides a central passageway with provisions for mounting a barrier, conducts current for the purpose of isolating the conductor from the barrier, and allows current to flow from one side of the barrier to the other. Factors such as increasing power demand and expansion and upgrading of power grid structures are expected to drive the electrical bushings market during the forecast period.
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Moreover, the growing demand for long-distance transmission networks is matched by rapid infrastructure expansion requiring operational feasibility, rapid response, increased reliability, and protection of electrical equipment, highlighting the market size of electrical bushings . For example: In February 2020, American Electric Power's Indiana Michigan Power upgraded the transmission network's substations and he announced a $77 million investment to build new substations .
ABB Group, TRENCH Group (SIEMENS), General Electric, Eaton, Elliott Industries, Ziplo GMBH, RHM International, Toshiba, Webster Wilkinson, Nexans.
Impact of the novel coronavirus disease (COVID-19)
The sudden outbreak of coronavirus has created a health emergency around the world and has had a huge impact on various industries. The pandemic brought to a halt various industry activities as the surge in active virus cases forced ongoing operations to come to a halt. Moreover, supply chain and global transportation disruptions have impacted the production and import/export of the electrical bushings market.
The Global Electric Bushings Market report has been thoroughly studied from several aspects which help the stakeholders to make a more sophisticated decision.
· Based on application, the electrical bushing market is segmented into switchgear, transformers, and others. The transformer sector has a significant market share. This is primarily due to its ability to minimize fire hazards and extend operating life. In addition, the ability to withstand high voltages and mechanical strength, as well as ease of installation and transportation, facilitate product adoption. Moreover, increasing power infrastructure development in countries around the world is expected to drive the growth of this segment during the forecast period. For example, in July 2021, GE Renewable Energy's Grid Solutions announced that it had received multiple orders from India's Power Grid Corporation of India Limited (PGCIL) to supply 765 kV transformers and reactors in India.
· Based on industry, the market is segmented into Industrial, Utilities, and Others. The utility division serves a broad share of the electrical bushing market. This is mainly due to skyrocketing investment in T&D networks and increased installation of electrical equipment such as transformers, switchgear and circuit breakers, which are driving up the demand for transformers. Example: In 2020 Schneider Electric partnered with Tricolite Electrical Industries Limited for the new generation of his MV switchgear.
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The Geographical Segmentation of Electric Bushings Market Includes:
North America (United States, Canada, and Rest of North America)
Europe (Germany, UK, Spain, Italy, France, Rest of Europe)
Asia Pacific (China, Japan, India, and the rest of Asia Pacific)
・ Rest of the world
Asia Pacific is expected to grow at a significant CAGR during the forecast period. This is mainly due to the power industry in the region aimed at expanding the transmission and distribution network and introducing renewable technologies into the generation mix. Moreover, to enhance power supply in urban and rural areas, the Indian transformer bush market is expected to grow rapidly due to government support for power infrastructure. Example: In December 2021, Transformers and Rectifiers India Limited announced that it has won an order for transformers with a total contract value of INR 72 billion from Gujarat Energy Transmission Corporation Limited (GETCO) .
Major companies targeting the market include:
・ABB Group
・TRENCH Group (Siemens)
· General Electric
・Eaton
・Elliott Industries
・Dipro GMBH
・RHM International
・ Toshiba
Webster Wilkinson
nexans
competitive environment
The extent of competition among prominent global companies is elaborated by analyzing some of the major key players operating across the globe. Our expert team of research analysts analyzes the Electric Bushings Market global market competition, market shares, the latest industry advancements, innovative product launches, partnerships, mergers, or acquisitions by major players in the Electric Bushings Market. highlight the features. Key players have been analyzed using research techniques to gain insight into global competition.
The key questions to be answered through this analytical market research report are:
• What are the latest trends, new patterns and technological advancements in the Electric Bushings market?
• What are the factors that will influence the electric bushing market during the forecast period?
• What are the global challenges, threats and risks in the Electric Bushings market?
• What are the factors driving and restraining the electric bushing market?
• Which are the most demanding regions of the world for the Electric Bushings market?
• What will the global market size be in the next few years?
• What are the key go-to-market strategies and policies applied by global companies?
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